All Asset Correlations

Mutual Funds . USA . 
Fund . All Asset Fund
PAAIX Fund  USD 11.27  0.02  0.18%   
The current 90-days correlation between All Asset Fund and Blackrock High Yield is 0.55 (i.e., Very weak diversification). The correlation of All Asset is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

All Asset Correlation With Market

Very weak diversification

The correlation between All Asset Fund and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding All Asset Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in All Asset Fund. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with All Mutual Fund

  0.89PFBPX Pimco Foreign BondPairCorr
  0.99PFCJX Pimco Preferred AndPairCorr
  0.99PFANX Pimco Capital SecPairCorr
  0.96PFIAX Pimco Floating IncomePairCorr
  0.96PFIIX Pimco Floating IncomePairCorr
  0.95PFIUX Pimco Unconstrained BondPairCorr
  0.99PFINX Pimco Capital SecPairCorr
  0.64PFMIX Municipal BondPairCorr
  0.97PFNCX Pimco Floating IncomePairCorr
  0.88PFONX Pimco International BondPairCorr
  0.88PFORX Pimco Foreign BondPairCorr
  0.99PFNNX Pimco Preferred AndPairCorr
  0.96PFNIX Pimco Low DurationPairCorr
  0.95PFNUX Pimco Dynamic BondPairCorr
  0.88PFOAX Pimco Foreign BondPairCorr
  0.86PFOCX Pimco Foreign BondPairCorr
  0.74PFRCX Foreign BondPairCorr
  0.86PFRAX Pimco Foreign BondPairCorr
  0.95PFRMX Pimco Inflation ResponsePairCorr
  0.99PFPNX Pimco Capital SecPairCorr
  0.94PFTCX Short Term FundPairCorr
  0.96PFTPX Pimco Floating IncomePairCorr
  0.87PFRRX Pimco Foreign BondPairCorr
  0.98PFSIX Pimco Emerging MarketsPairCorr
  0.79PFUUX Pimco Foreign BondPairCorr
  0.77PFUAX Foreign BondPairCorr
  0.79PFUIX Foreign BondPairCorr
  0.79PFUNX Pimco International BondPairCorr
  0.79PFUPX Pimco Foreign BondPairCorr
  0.98PGAPX Pimco Global MultiPairCorr
  0.98PXTIX Fundamental IndexplusPairCorr
  0.96PXTNX Pimco Rae PlusPairCorr
  0.94PGBIX Global Bond FundPairCorr

Moving against All Mutual Fund

  0.77PWLBX Pimco Rae WorldwidePairCorr
  0.55PWLEX Pimco Rae WorldwidePairCorr
  0.48PWLMX Pimco Rae WorldwidePairCorr
  0.47PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between All Mutual Fund performing well and All Asset Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze All Asset's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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